Turner Construction launches risk management consultancy

Turner Construction Co. has consolidated its risk management operations to provide consulting services to its sister companies and other organizations in the construction sector.

Montvale, New Jersey-based Stratus Risk Associates will offer advice on insurance placements, risk analysis and claims services, said Kevin King, who leads the group and is longtime vice president and general manager, risk management, at Turner.

The 48-member team includes Turner’s corporate risk management staff and its local risk management staff throughout the United States, he said.

The company will continue to handle Turner’s risk management and provide services and advice to sister companies Flatiron Construction, E.E. Cruz and Clark Builders, which are owned by Essen, Germany-based Hochtief A.G.

In addition, Stratus will offer risk management consulting services to smaller construction companies, developers, architects and engineers and other construction sector companies, Mr. King said.

“Our intent is to never to be a broker, but with the expertise we’ve built up over the years we understand how to resolve claims in the most reasonable way and how to reduce the total cost of risk,” he said.